| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6450 |
| DP6450 Rules versus Discretion in Loan Rate Setting | |
| Hans Degryse; Steven Ongena; Geraldo Cerqueiro | |
| 发表日期 | 2007-09-23 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | Previous empirical work on the link between domestic and foreign investment provides mixed results which partly depend on the level of aggregation of the data. We argue that the aggregated home country implications of foreign direct investment (FDI) cannot be gauged using firm-level data. Aggregated data, in turn, miss channels through which domestic and foreign activities interact. Instead, industry-level data provide useful information on the link between domestic and foreign investment. We theoretically show that the effects of FDI on the domestic capital stock depend on the structure of industries and the relative importance of domestic and multinational firms. Our model allows distinguishing intra-sector competition from inter-sector linkage effects. We test the model using data on German FDI. Using panel cointegration methods, we find evidence for a positive long-run impact of FDI on the domestic capital stock and on the stock of inward FDI. Effects of FDI on the domestic capital stock are driven mainly by intra-sector effects. For inward FDI, inter-sector linkages matter as well. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Domestic capital stock Foreign direct investment |
| URL | https://cepr.org/publications/dp6450 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535311 |
| 推荐引用方式 GB/T 7714 | Hans Degryse,Steven Ongena,Geraldo Cerqueiro. DP6450 Rules versus Discretion in Loan Rate Setting. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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